President Trump's expanding trade war is boosting the chances of a recession. Layoffs are rising and consumer confidence and spending are sliding.

Key Takeaways Treasury Secretary Scott Bessent said the administration's goal was to have a "smooth transition" to an economy with less federal spending.Last week, Bessent stoked fears of a recession by warning of a period of "detox" from high government spending as Trump slashed programs and workers.

President Donald Trump has been staunchly defensive about his tariffs against U.S. allies and foes alike. But amid his tariff giveaway, citizens fear that the United States will enter a recession. In an interview with Maria Bartiromo from Fox News,